Optas LLC Purchases New Position in Consolidated Edison Inc $ED

Optas LLC acquired a new position in Consolidated Edison Inc (NYSE:ED) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,984 shares of the utilities provider’s stock, valued at approximately $694,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Consolidated Edison by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 45,174,933 shares of the utilities provider’s stock worth $4,540,984,000 after buying an additional 134,122 shares in the last quarter. State Street Corp raised its holdings in shares of Consolidated Edison by 0.3% in the third quarter. State Street Corp now owns 24,050,572 shares of the utilities provider’s stock valued at $2,417,563,000 after acquiring an additional 63,346 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after acquiring an additional 5,955,653 shares during the period. Legal & General Group Plc grew its holdings in Consolidated Edison by 1.2% during the 3rd quarter. Legal & General Group Plc now owns 4,351,530 shares of the utilities provider’s stock worth $437,416,000 after acquiring an additional 52,061 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Consolidated Edison by 1.4% during the 3rd quarter. Northern Trust Corp now owns 4,128,793 shares of the utilities provider’s stock worth $415,026,000 after acquiring an additional 57,365 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Deneen L. Donnley sold 1,922 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the transaction, the senior vice president directly owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Consolidated Edison Trading Down 0.5%

Shares of Consolidated Edison stock opened at $109.65 on Tuesday. The firm’s 50 day simple moving average is $112.15 and its two-hundred day simple moving average is $104.62. The firm has a market capitalization of $40.40 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 2.80 and a beta of 0.34. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.86 by $0.03. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts predict that Consolidated Edison Inc will post 6.07 EPS for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be paid a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s payout ratio is presently 62.83%.

Analyst Ratings Changes

Several research firms have recently commented on ED. Bank of America restated an “underperform” rating and issued a $104.00 price target on shares of Consolidated Edison in a report on Wednesday, February 25th. Morgan Stanley reiterated an “underweight” rating and set a $102.00 price objective on shares of Consolidated Edison in a research note on Friday, February 20th. UBS Group lifted their price objective on shares of Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Citigroup reissued a “buy” rating on shares of Consolidated Edison in a research note on Monday, February 23rd. Finally, TD Cowen upped their target price on Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a report on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, Consolidated Edison has a consensus rating of “Reduce” and an average target price of $108.21.

Consolidated Edison Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.